Private Loans

Many financial institutions offer private education loans to assist undergraduate, graduate and international students and their families with covering college expenses. Borrowers should carefully review loan terms and are encouraged to use federal loan options before considering private loans.

The maximum amount a student may borrow is the cost of attendance minus other financial aid. Private loans are typically disbursed in two installments per academic year, or in one installment for a single semester or summer term. Funds may not be released more than 10 days before classes begin, and students should apply no earlier than 90 days before the start of the term due to credit expiration.

Before considering a private loan, students should review and exhaust their eligibility for federal student aid, including grants, work-study, and federal loans. To apply for federal aid, students must complete the Free Application for Federal Student Aid (FAFSA) at https://studentaid.gov; you can also visit the site to learn more about your eligibility and explore available federal aid programs.